Blackstone Buys Kyoto Hotel From Goldman in $54 Million Deal

Blackstone Inc. bought a Kyoto hotel from Goldman Sachs Group Inc. as a rapid tourism rebound in Japan boosts hospitality deals in the island nation.

The 158-room Moxy Kyoto Nijo, a brand of Marriott International Inc., was acquired in an ¥8 billion ($54 million) deal that closed last week, according to people familiar with the matter. The hotel, located near Kyoto’s historic Nijo Castle, opened in July 2021.

A Blackstone spokesperson confirmed the transaction took place, but declined to comment on other details. A representative for Goldman Sachs declined to comment.

Moxy Kyoto Nijo

Source: Google

Japanese hotels have been among the ...